Last Updated on: 20th July 2024, 12:25 pm
Introduction
RoboForex has emerged as a distinguished brokerage firm and a forefront software developer within the Forex industry. It has garnered acclaim from clients and financial market experts, further solidifying its reputation as a dependable partner.
Boasting numerous prestigious awards, the company’s reputation as a reliable ally is well-established. RoboForex holds an international license from FSC Belize, making it an appealing option for traders searching for a reliable platform.
We have discussed several other broker features in this comprehensive review; give it a read for your reliable and informed trading needs.
Overview
| Broker | RoboForex |
| Official Website | roboforex.com |
| Headquarters | Belize City, Belize |
| Founded In | 2009 |
| Regulated By | FSC |
| Minimum Deposit | $10 |
| Minimum Spread | 0 pips |
| Trading Assets | Forex, CFDs Stocks, ETFs, Indices |
| Maximum Leverage | 1:2000 |
| Islamic Account | Yes |
| Demo Account | Yes |
| Trading Platforms | MT4, MT5 |
| Deposits and Withdrawal Options | VISA, MasterCard, Neteller, Bank Transfer, Skrill, |
| Base Currencies | USD, CNY, EUR, GOLD |
| Bonuses and Contests | Yes |
| Customer Support | 24*7 |
What is RoboForex?
RoboForex is an online brokerage firm founded in 2009. The broker is located in Belize City and is regulated by the Financial Services Commission with Registration number 000001272. The License number of the broker is 000138/437. The broker is at 2118 Guava Street, Belama Phase 1, Belize City, Belize.
The broker offers diverse trading platforms, encompassing MetaTrader 4, MetaTrader 5, the Social Platform, and its in-house proprietary platform.
The spectrum of trading instruments extends from Currencies to Metals, Indices, Energies, Stocks, and ETFs. Beyond fundamental services, RoboForex provides unique features, including the PAMM system and the Social Trading network crafted under their proprietary CopyFX brand. With a broad selection of trading assets, including ETFs and stocks numbering in the thousands, coupled with competitive spreads, RoboForex enhances the trading experience.
Is RoboForex Illegal?
RoboForex is regulated by the Financial Services Commission, a renowned stringent regulatory body. The broker has undergone remarkable expansion, evidenced by its impressive client base of 1,000,000 individuals who have entrusted their funds to the platform.
Going the extra mile in safeguarding client interests, the broker holds a Category A membership with The Financial Commission, operating independently of Hong Kong. This membership grants clients protection through the Compensation Fund, securing deposits up to a maximum of €20,000.
In addition to its robust protective measures, RoboForex proudly holds the Verify My Trade (VMT) certificate. Furthermore, the platform offers negative balance protection, ensuring clients can navigate their portfolios in a secure and competitive trading environment.
Special Features of RoboForex
- Market Makers within the broker can trade with a minimal deposit and enjoy commission-free trades.
- RoboForex features more resilient trading spreads starting from 0 Percentage In Point (PIP), contingent on individualised trading conditions.
- Order execution processes are expedited on the RoboForex platform.
- RoboForex presents a selection of currency pairs, including EUR/USD and CNY, as well as commodities like Gold.
- Upon opening an account with RoboForex, traders gain access to eight distinct trading asset classes and multifaceted features.
- Micro account holders on RoboForex can trade with a minimum share size of 0.01.
- The broker offers users the advantage of a “partners affiliate scheme” to enhance their profits.
- The broker extends Copy Trading support for both currency pairs and commodities.
Available Trading Assets At RoboForex
Robo Forex offers several trading assets:
Forex
Robo Forex facilitates trading in more than 40 currency pairs, including majors, minors, and exotic pairs. Access to the interbank market is also provided, enhancing the potential for improved pricing and execution.
Stocks
Robo Forex enables trading in diverse stocks from the world’s largest companies, including Apple, Google, Amazon, and Facebook. Access to stocks from emerging markets is offered, allowing traders opportunities for portfolio diversification.
Indices
Robo Forex provides trading options for global indices such as the S&P 500, NASDAQ, FTSE 100, and DAX. This feature enables traders to gain exposure to the performance of different markets.
CFDs on Futures
Robo Forex facilitates trading in various futures contracts, including those tied to commodities like gold, silver, and crude oil. This affords traders the chance to capitalise on movements in commodity prices.
Energies
Robo Forex supports trading in energy markets, covering commodities like crude oil, natural gas, and heating oil. This feature allows traders to capitalise on fluctuations in energy prices.
Commodities
RoboForex offers trading in various commodity markets, including gold, silver, and copper. This provides traders with exposure to the performance of diverse commodity markets.
Cryptocurrencies
Robo Forex allows trading in various cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. This feature offers traders opportunities to profit from the volatility in cryptocurrency markets. For larger amounts of cryptocurrencies, look for Trade245.
ETFs
Robo Forex facilitates trading in exchange-traded funds (ETFs), allowing traders to gain exposure to different markets and sectors.
Account Types At RoboForex
| Account Types | Prime | ECN | RStocks Trader | ProCent | Pro |
| Minimum Deposit | $10 | $10 | $100 | $10 | $!0 |
| Execution Type | Market Execution | Market Execution | Market Execution | Market Execution | Market Execution |
| Spreads | Floating from 0 spreads | Floating from 0 spreads | Floating from 0 spreads | Floating from 1.3 spreads | Floating from 1.3 spreads |
| Instruments | More than 100 | More than 100 | More than 12,000 | More than 50 | More than 50 |
| Bonuses | A limited number of offers | A limited number of offers | No | All offers | All offers |
| Platforms | MT4, MT5, Webtrader | MT4, MT5, Webtrader | RoboForex WebPlatform | MT4, MT5, Webtrader | MT4, MT5, Webtrader |
Demo Account
Creating a demo account on Robo Forex allows you to assess our trading conditions, including instruments, spreads, swaps, and execution speed, without investing real money.
- Initial deposit: Not necessary
- Execution type: Market Execution
- Spreads: Varied based on the type of account
- Instruments: Varied based on the type of account
- Bonuses: Limited number of offers
- Platforms: Varied based on the type of account
How To Open An Account On RoboForex
To open an account with Robo Forex is a straightforward process. Simply navigate to the account opening or sign-in page and follow the guided steps:
STEP 1: Choose and click on the RoboForex “Open an account” page.
STEP 2: Input personal information (name, email, etc.).
STEP 3: Confirm the accuracy of your data.
STEP 4: After activating and validating your account, proceed with the money deposit.
RoboForex Login
You can log in to your Robo Forex account by entering your member ID and Password after registering your account with the broker.
Trading Platforms At RoboForex
MetaTrader4
- MetaTrader 4 is suitable for both seasoned C-Suite traders and beginners.
- The platform offers three distinct types of order execution.
- Traditional notifications are available in the form of graphical insights.
- Users can choose from a selection of 50 technical indicators on the spot.
MetaTrader5
- RoboForex MetaTrader 5 stands out as the most advanced and sophisticated platform available.
- The platform combines order initiations with ambitious exchange strategies.
- MetaTrader 5 offers users diverse asset classes, multi-fiscal capabilities, and insights into money markets and supports six different order types for pending market orders.
cTrader
- cTrader is designed for Forex traders with advanced expertise in trading.
- This RoboForex platform excels in executing trades swiftly.
- Unique order types, second-level pricing, 54 technical signals, and 14-time frames are features offered for market exchanges through the cTrader platform.
RTrader
- RoboForex R Trader account partners benefit from the convenience of accessing financial markets through a unified platform.
- R Trader is a multi-asset web platform that seamlessly integrates modern technologies, a redesigned classic design, and provides access to major global financial markets.
- The R Trader platform allows users to elevate their market exchanges to a higher level.
- Users utilising R Trader functionalities are not hindered by obstacles like software updates on their web browser for RoboForex.
- The Rtrader platform features a user-friendly interface that is easy to navigate.
- The initial deposit requirement for the RTrader platform at RoboForex is only $10.
CopyFx
- CopyFX serves as an investment platform tailored for uncomplicated and short-term investments.
- The platform offers a straightforward and convenient method for copying transactions.
- CopyFX traders impose minimum deposit requirements that need to be fulfilled to replicate their trades.
RoboFx Mobile App
- The mobile app from RoboForex provides traders with swift and convenient access to the market while on the move.
- It proves invaluable for promptly adjusting open trades in response to market dynamics.
- In the fast-paced and ever-changing market, staying informed about the latest developments becomes effortless with the R MobileTrader.
- The app allows users to execute market, limit, and stop orders and provides the flexibility to adjust the exposure of open trades.
Deposits and Withdrawals
Deposits
Concerning funding methods, there are more than 20 convenient options for transferring money, including:
- Bank transfers
- Card payments
- A variety of e-wallets, such as Skrill, Neteller, POLi, FasaPay, and others
Withdrawals
We have discovered that RoboForex adheres to a 0% commission policy for most deposits and many withdrawals, with all associated expenses covered by the broker. Withdrawal options at RoboForex are diverse, encompassing methods such as Bank Wire or Credit Cards.
However, it is crucial to exercise caution, as specific withdrawal methods may incur additional fees. For instance, Skrill and AdvCash impose a 1% processing fee, and Visa withdrawals come with an added charge of 2.6% plus 1.3 USD.
RoboForex Pros and Cons
Here are some advantages and disadvantages of RoboForex:
| Pros | Cons |
| Access to favourable trading conditions with a low minimum deposit requirement | A limited selection of currency pairs, totalling 36, are available for Pro, Pro-Cent, ECN, and Prime accounts. |
| Exclusive investment program, CopyFx | Absence of cryptocurrency tools while trading on the R StocksTrader platform. |
| Industry-leading affiliate payments, reaching up to 84% of the referral’s paid fee | |
| Launch of STP and ECN in the market | |
| Swift withdrawal of funds with instant processing |
RoboForex Leverage
In the Pro-Cent Account and Pro-Traditional Account, users benefit from a maximum credit leverage of 1:2000. Similarly, for traders utilising the ECN account functionality, RoboForex provides a maximum leverage of 1:300. This leveraged offering is available to account holders of Prime and r Trader.
Bonuses at Roboforex
RoboForex provides a diverse range of bonus programs tailored to meet the preferences of various traders. The 30 USD welcome bonus is an excellent incentive for newcomers eager to explore live trading. Under the classic bonus program, traders can benefit from a bonus of up to 120% on their deposits, providing additional funds for trading.
The profit share bonus program allows traders to earn up to 60% of the profit generated by their referrals, particularly appealing to those with an extensive network of contacts. The up to 10% on account balance program offers traders an effective means to enhance their account equity. Furthermore, the cashback rebate services allow traders to earn cashback on each trade, effectively reducing their overall trading costs.
Education and Research Resources
- Internal analytics complemented by collaboration with the independent analytical firm Claws & Horns.
- Claws & Horns delivers video content featured on the Robo Forex blog.
- The charts section is crowded with less-than-impressive content.
- The educational content undergoes daily updates, offering traders access to a wealth of high-quality materials.
- The educational materials are a combination of in-house content and collaboration with Claws & Horns.
Alternatives To RoboForex
Insert links of our brokers here Equiity, TradeEU, Capitalix, MetherWorld, RCG Markets, .
Customer Support
Robo Forex provides customer service that operates 24/7, offering assistance through live chat, emails, and international phone lines. The broker also offers a callback service and supports communication in more than 10 languages. In our testing, the Customer Support at RoboForex earned an excellent overall rating of 9.2 out of 10.
We experienced fast and knowledgeable responses, finding it quite easy to reach the support team during working days. This high level of customer support contributes significantly to the positive user experience with the platform.
- 24/7 Customer Support
- Phone Number: +593 964 256 286
- RoboGate LTD: Registered address: Suite 51 Victoria House, 26 Main Street, GX11 1AA Gibraltar
Conclusion
Robo Forex prioritises the security of traders by providing negative balance protection and a secure network. Overall, the RoboForex trading platform proves to be a fitting choice for Forex investors at various expertise levels. The site’s RAMM functionalities are particularly well-suited for the investment objectives of C-suite traders. Additionally, the platform offers demo contests, allowing users to explore the website and stay updated on ongoing promotions, as highlighted in the RoboForex review.
